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Iraq expects no OPEC oil output change in December

Iraqi Oil Minister Hussain al-Shahristani did not expect OPEC to change its oil production target later this year.


October 20, 2010 2:30 by

Iraqi Oil Minister Hussain al-Shahristani said on Wednesday he did not expect the Organisation of Petroleum Exporting Countries to change its oil production target later this year.

Asked if OPEC could change it when it meets for its next conference in Quito on Dec. 11, he told Reuters in Baghdad: “Until now there has been no indication in the market that requires reconsidering production target levels.”

He added, “If oil prices are above $75 then there is no need for an extraordinary meeting to review the production target.”

(Reporting by Rania El Gamal Writing by Maria Golovnina; Editing by Michael Christie)


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